Daily Economic Roundup – January 18, 2011

What’s on the Economic Horizon
Empire State Index Seen at 13.0
BOC To Keep Rates on Hold?
German and Euro Zone ZEW Expected to Rise

United States

With the Wall Street dudes chillin’ on my bro Martin Luther King’s day, the dollar bulls and bears weren’t able to play much with the Greenback. EUR/USD dropped by 111 pips on concerns in the euro region, but USD/JPY only inched down by 6 pips to 82.72. Meanwhile, GBP/USD also closed 15 pips higher than its open price after dropping to an intraday low of 1.5836. More…

Euro Zone

Traders don’t seem to be too optimistic about the ongoing Ecofin meetings as they dumped the euro yesterday. EUR/USD fell from its open price of 1.3397 to a low of 1.3245 before closing at 1.3296. Meanwhile, EUR/JPY also took a nasty tumble from its 110.90 open to a low of 109.58. More…

United Kingdom

Aaaand, that’s seven in a row! The pound continued its winning streak against the dollar in yesterday’s trading, hitting an eight-week high at 1.5955 before ending the day at 1.5885 with a 15-pip win. Hollah! Now the question is, can it make it to eight? More…

Japan

The yen’s win against the dollar and the euro in yesterday’s trading might have been as surprising as R-Patz’ new red hair. Despite negative data, USD/JPY fell to a low of 82.36 before ending the day at 82.72. On the other hand, EUR/JPY closed 101 pips lower at 109.90. More…

Canada

“Take that, Greenback!” yelled the Loonie as it pushed for another day in gains. USD/CAD opened at .9883 and was able to close lower at .9866 for the day. Will the Loonie be able to keep up its winning streak against the U.S. dollar? More…

Australia

Score one for the Aussie! Like Anne Hathaway’s shimmering outfit in the Golden Globes Awards, the Aussie scored an A with the currency bears when a better-than-expected economic data clocked in from the Land Down Under. AUD/USD climbed by 25 pips after peaking at an intraday high of .9969. More…

New Zealand

With risk appetite on its side, the Kiwi became a rocketeer in yesterday’s trading. NZD/USD rallied past the .7700 psychological handle and tapped an intraday high of .7748 before landing at .7722 to close the day. More…

Switzerland

With no data coming out from Switzerland, and the U.S. market celebrating Martin Luther King’s day yesterday, the franc’s price action is as mixed as a bag of nuts. EUR/CHF plunged by 78 pips on a bit of risk aversion, but USD/CHF also inched up by 51 pips. More…